When introducing the Eleven Malaysia Plan in Parliament last month, the Prime Minister Datuk Seri Najib Razak boasted that Malaysia’s national per capita income increased 25-fold from 1970 to 2014, rising from the ranks of a low-income economy in the 1970s to a high middle-income economy today.
What Najib did not tell Malaysians is that Malaysia’s financial scandal had increased by more than 63,0000-fold from the RM66 million Bank Rakyat scandal in 1975 to the RM42 billion 1MDB scandal of today!
No wonder that even the former Prime Minister, Tun Dr. Mahathir, who during his 22-year administration from 1981 to 2003, had chalked up a long series of financial scandals probably costing the country some RM100 billion, has come to forefront to demand accountability, transparency and good governance from the Najib premiership in utter disgust at the biggest financial scandal in the nation’s history – the RM42 billion 1MDB scandal.
In the escalating Najib-Mahathir tussle for accountability, transparency and good governance over the 1MDB scandal, DAP leaders have been proven right that allegations of malpractices, abuses of power and even corruption in the 1MDB scandal in the past few years with DAP MP for PJ Utara Tony Pua and the PKR MP for Pandan Rafizi Ramli spearheading the 1MDB exposes in the last four years had hit the nail on the head about the enormity and iniquity of the 1MDB scandal. Continue reading “Malaysia’s national per capita income increased 25-fold from 1970 to 2014 but Malaysia’s financial scandal increased by more than 63,000-fold from RM66 million in 1975 to RM42 billion today”